tax purposes (see IRS Notice 2014-21), donations of cryptocurrency may be subject to special rules as to the amount of your charitable deduction, the documentation that must be provided to claim a tax deduction (which may include specific tax forms or qualified appraisals), or other matters. federal tax laws, to be used in its discretion for its charitable purposes.Īre there any special tax rules for contributions of cryptocurrency?īecause the IRS has indicated that it will treat cryptocurrency as property for U.S. Cryptocurrency donations Mozilla receives are considered charitable contributions under U.S. The Mozilla Foundation is a California non-profit corporation exempt from United States federal income taxation under IRC 501(c)(3) and a public charity classified under IRC sections 170(b)(1)(A) and 509(a)(1). Is it tax-deductible to donate cryptocurrencies? Bitpay’s service fees, at a flat 1%, are actually lower than credit card or Paypal transaction fees. Thus, Mozilla does not hold these assets long enough for any fluctuations in value to affect the value of a donation.ĭoes giving cryptocurrency result in more of my charitable donation going to transaction fees? dollars immediately after they are donated. Mozilla’s service provider, Bitpay, provides Mozilla and other nonprofit clients the ability to convert cryptocurrencies received into U.S. You can find a list of supported crypto wallets here: Is Mozilla worried about the fluctuating value of cryptocurrencies? What wallets and exchanges are supported by BitPay? (Updated ) Through BitPay, we can accept donations of most major cryptocurrencies including: Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), SHIB, Wrapped Bitcoin (WBTC), XRP, and 5 USD-pegged stable coins (GUSD, USDC, USDP, DAI, and BUSD). What cryptocurrencies are accepted? (Updated ) 9 If I donated in cryptocurrency, can I request a refund of my donation?.8 What personal information does Mozilla require cryptocurrency donors to provide?.7 What documentation does Mozilla provide to donors?.6 Are there any special tax rules for contributions of cryptocurrency?.5 Is it tax-deductible to donate cryptocurrencies?.4 Does giving cryptocurrency result in more of my charitable donation going to transaction fees?.3 Is Mozilla worried about the fluctuating value of cryptocurrencies?.2 What wallets and exchanges are supported by BitPay? (Updated ).1 What cryptocurrencies are accepted? (Updated ).

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